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Get the best machinery with an engineer loan

  • Highlights

  • Fund machinery and equipment

  • Withdraw funds flexibly for purchase/ repair

  • Get a hassle-free sanction

  • Repay the loan on easy terms with Flexi Loans

Most engineering firms rely heavily on state-of-the-art machines, specialised equipment, and exclusive software. Having the right machinery that help you develop better products, increase your output and boost your profitability. Investing in needed machines and equipment requires funds that may not be readily available to you due to insufficient business income. You also may not want to block your working capital by investing in such fixed assets. So, you can use a customised Engineer Loan from Bajaj Finserv for this purpose. This loan offers hassle-free finance and repayment flexibility to professionals like you.

Read on to see how an Engineer Loan can be used to buy the best machinery and equipment for your business.

Loan sanction of up to Rs.15 lakh

If you are in the mechanical engineering business, for example, you may need strain gauges, scanning microscopes and torque measuring devices. In a civil engineering business, you will need machines like aggregate jaw crushers, abrasion testing machines and pendulum impact testers.

Owning an automotive engineering business means that you will need design software, prototype building software, and machines to help you physically test machines and motors. All these specialised equipment can be expensive to lease, purchase, repair, or upgrade. Here’s where you can use funds up to Rs.15 lakh to keep your business going strong without compromise.

Flexi Loan facility for purchase in instalments or to meet unexpected needs

Let’s assume that your automobile engineering business needs immediate funds to pay for cold forming presses, flow meters, vibration isolators and semiconductor process systems. But rather than buy multiple machines at once, you want to buy them in instalments based on increased demand and revenue. This is where you can use the Flexi Loan facility, which gives you the sanction of a particular amount for a particular tenor. Within this tenor, you can make multiple withdrawals. For example, due to delayed payments from a client, you may also need urgent funds to upgrade your Ladder Logic and Mathworks MATLAB software. In such cases, you have the funds available at hand. The best part is that rather than paying interest on the entire sanctioned amount, you only pay interest on what you use. You can also make prepayments at no charge, and re-avail the prepaid amount. Also, you can then choose to pay interest-only EMIs to better manage cash flow. You can pay off the principal at the end of the tenor.

Top Business Opportunities for Mechanical Engineers

Minimal documentation and fast sanction

Say you have an order to fulfil within a very short deadline. For this, you will need to buy some additional machinery. Fund your machinery purchase by availing the tailor-made Engineer Loan. You don’t have the hassle of spending hours to collect and organise your documents. Lenders like Bajaj Finserv will only need you to submit minimal documents like financial statements, KYC documents and your degree and business vintage proof for the loan. You can also apply online for the loan and get doorstep pickup of your documents to further help you conserve time.

Easy repayment and prepayment

Your Engineer Loan charges a nominal rate of interest that makes repayment more affordable. You can also make part prepayments to reduce the principal at low or no costs, to further reduce your interest payments.

So, improve or double your output by using an Engineer Loan to finance all your machinery and equipment needs.

The information, products, and services included in or available on bajajfinserv.in may include inaccuracies or typographical errors. Changes are periodically added to the information herein. bajajfinserv.in and/or its respective suppliers / affiliates may make improvements and/or changes on the bajajfinserv.in website at any time.
The material contained in this site and on associated web pages is general information and it is not intended to be advice on any particular matter. Subscribers and users should seek professional advice before acting on the basis of the information contained herein. The decision with respect to any financial product or opportunity or nature or suitability or choice or the viability of any product or service shall always be sole responsibility and decision of the subscriber and user.

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